This Bill of Sale of Automobile contains the following information: the make/model of the car, VIN number and other information. Seller guarantees that the property is his/her own and is free of all claims and offsets of any kind. The form also contains the Odometer Disclosure Statement required by Federal Law and State Law, where applicable, which must be signed in the presence of a notary public.
Alabama Odometer Statement With Time
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How to fill out Alabama Bill Of Sale Of Automobile And Odometer Statement?
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FAQ
1. A vehicle that is less than 10 model years old, without any odometer discrepancy, will reflect Actual Mileage. 2. A vehicle that is 10 model years or older, will reflect Exempt from Disclosure.
The function of the odometer is to provide information about the distance traveled by a car. By knowing the distance traveled, then you can know the intensity of the work of a car. Checking the odometer is very important because it can be a reference when you're trying to buy a used car.
The Federal Truth in Mileage Act of 1986, requires that you (the transferor) state the mileage in connection with the transfer of ownership. Failure to complete or providing a false statement may result in fines and/or imprisonment.
I you have a odometer that only has 5 places for numbers the highest mileage it can record is 99,999. SO when it goes past 99,999 it goes back to 00,000 at that point it has surpassed it's mechanical ability to record accurate mileage.
An odometer disclosure statement is a legal document that states the accurate mileage on a vehicle's odometer at the time of transfer from the seller to the buyer. If the seller knows that the car's mileage is incorrect, the document must contain that information.